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Australian (ASX) Banks Industry Analysis

UpdatedSep 14, 2026
DataAggregated Company Financials
Companies14
  • 7D-2.7%
  • 3M-0.8%
  • 1Y-6.9%
  • YTD-5.7%

Over the last 7 days, the Banks industry has dropped 2.7%, driven by declines from every company within the industry. The industry has fallen 6.9% in the last year. Looking forward, earnings are forecast to grow by 5.0% annually.

Industry Valuation and Performance

Has the Australian Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 14 Sep 2026AU$622.6bAU$99.6bAU$31.0b14.6x20.1x6.2x
Wed, 12 Aug 2026AU$667.1bAU$98.3bAU$30.0b17.4x22.2x6.8x
Fri, 10 Jul 2026AU$649.0bAU$98.3bAU$30.0b14.5x21.6x6.6x
Sun, 07 Jun 2026AU$619.2bAU$98.3bAU$30.0b15.5x20.6x6.3x
Tue, 05 May 2026AU$665.7bAU$97.9bAU$30.9b16x21.6x6.8x
Thu, 02 Apr 2026AU$678.7bAU$98.1bAU$30.9b15.4x22x6.9x
Sat, 28 Feb 2026AU$725.5bAU$98.1bAU$30.9b17.4x23.5x7.4x
Mon, 26 Jan 2026AU$638.9bAU$96.7bAU$30.3b19.1x21.1x6.6x
Wed, 24 Dec 2025AU$661.0bAU$96.7bAU$30.3b19.3x21.8x6.8x
Fri, 21 Nov 2025AU$632.0bAU$96.8bAU$30.3b18.4x20.8x6.5x
Sun, 19 Oct 2025AU$541.1bAU$74.0bAU$24.5b16.1x22.1x7.3x
Tue, 16 Sep 2025AU$665.4bAU$95.6bAU$31.7b14.9x21x7x
Thu, 14 Aug 2025AU$629.4bAU$95.4bAU$32.1b14.7x19.6x6.6x
Sat, 12 Jul 2025AU$648.2bAU$94.5bAU$31.8b15.2x20.4x6.9x
Mon, 09 Jun 2025AU$638.4bAU$94.6bAU$31.8b15.1x20.1x6.8x
Wed, 07 May 2025AU$601.4bAU$93.5bAU$31.7b13.5x19x6.4x
Fri, 04 Apr 2025AU$578.0bAU$93.3bAU$31.7b12.7x18.2x6.2x
Sun, 02 Mar 2025AU$584.2bAU$93.3bAU$31.7b13.5x18.4x6.3x
Tue, 28 Jan 2025AU$607.6bAU$92.5bAU$31.4b13.8x19.3x6.6x
Thu, 26 Dec 2024AU$588.8bAU$92.5bAU$31.4b13.9x18.7x6.4x
Sat, 23 Nov 2024AU$619.4bAU$92.5bAU$31.4b14.1x19.7x6.7x
Mon, 21 Oct 2024AU$581.9bAU$91.8bAU$31.6b12.8x18.4x6.3x
Wed, 18 Sep 2024AU$582.2bAU$91.9bAU$31.6b12.6x18.5x6.3x
Fri, 16 Aug 2024AU$540.9bAU$91.7bAU$31.3b11.9x17.3x5.9x
Sun, 14 Jul 2024AU$535.8bAU$91.7bAU$31.6b11x16.9x5.8x
Tue, 11 Jun 2024AU$515.8bAU$91.7bAU$31.8b10.7x16.2x5.6x
Thu, 09 May 2024AU$504.4bAU$91.7bAU$31.8b10.8x15.9x5.5x
Sat, 06 Apr 2024AU$496.3bAU$92.5bAU$32.7b11.1x15.2x5.4x
Mon, 04 Mar 2024AU$494.8bAU$92.5bAU$32.7b11x15.1x5.3x
Wed, 31 Jan 2024AU$472.1bAU$92.8bAU$33.2b8.3x14.2x5.1x
Fri, 29 Dec 2023AU$455.7bAU$92.8bAU$33.2b8.1x13.7x4.9x
Sun, 26 Nov 2023AU$421.4bAU$92.8bAU$33.2b7.9x12.7x4.5x
Tue, 24 Oct 2023AU$414.3bAU$91.0bAU$32.5b7.9x12.7x4.6x
Thu, 21 Sep 2023AU$427.9bAU$91.0bAU$32.6b8x13.1x4.7x
Price to Earnings Ratio

13.1x


Total Market Cap: AU$427.9bTotal Earnings: AU$32.6bTotal Revenue: AU$91.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Australian Banks Industry Price to Earnings3Y Average 18.6x202420252026
Current Industry PE
  • Investors are relatively neutral on the Australian Banks industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 18.6x.
  • The industry is trading close to its 3-year average PS ratio of 6.2x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 3.1% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the Australian Financials industry?

AU Market-2.94%
Financials-2.34%
Banks-2.67%
Diversified Banks-2.66%
Regional Banks-3.08%
Industry PE
  • Investors are most optimistic about the Regional Banks industry even though it's trading below its 3-year average PE ratio of 56.3x.
    • Analysts are expecting annual earnings growth of 14.8%, which is higher than its past year's earnings decline of 33.3% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading close to its 3-year average of 18.5x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings decline of 33% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 4.8% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
No data available

Latest News

NAB
AU$38.72
National Australia Bank
7D
-1.8%
1Y
-11.6%
WBC
AU$34.53
Westpac Banking
7D
-1.4%
1Y
-10.8%
KSL
AU$1.08
Kina Securities
7D
-7.7%
1Y
-13.3%
CBA
AU$154.97
Commonwealth Bank of Australia
7D
-4.1%
1Y
-8.2%
BEN
AU$10.28
Bendigo and Adelaide Bank
7D
-2.1%
1Y
-19.6%
JDO
AU$0.99
Judo Capital Holdings
7D
-7.5%
1Y
-43.9%
ANZ
AU$37.54
ANZ Group Holdings
7D
-1.0%
1Y
13.8%
Narrative Update • Aug 14

ANZ: Margin Execution And Deposit Momentum Will Shape Mortgage And Wealth Outlook

Analysts have raised their price target on ANZ Group Holdings to A$36.43 from A$35.55, citing updated assumptions that include a modestly different discount rate, slightly softer revenue growth expectations, a small uplift in profit margin forecasts and a higher future P/E multiple. Analyst Commentary Recent commentary around ANZ Group Holdings focuses on how updated assumptions feed into the revised A$36.43 price target.
BOQ
AU$6.57
Bank of Queensland
7D
-0.9%
1Y
-7.6%